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Oil

Urals values in Northwest Europe and the Mediterranean have tumbled over
the past several sessions as the temporarily tight supply situation that saw
prices pick up throughout the second half of February has eased, sources said.

The FOB Singapore 500 ppm sulfur gasoil swaps structure on the
front-month flipped into backwardation from a contango Monday, March 2, on
outflows to Europe and the Middle East and expected lower supplies during
scheduled refinery maintenance in Asia over March and April, market sources
said Monday.

A record cold spell in the Northeastern US has pushed differentials lower
in the US and European jet markets as a steep backwardation has developed on
both the NYMEX ULSD and ICE gasoil futures markets.

Natural Gas

Russian gas giant Gazprom has committed to deliver up to 114 million
cubic meters/day of prepaid and ordered gas to "mutually agreed" points in
Ukraine until the end of March, European Commission vice-president for energy
union Maros Sefcovic said late Monday.

Duke Energy expects US coal markets to be "relatively stable" in the near
term while increased volatility could be in store in the longer term as
producers continue to match output with demand, an official said.

Coal

Uskmouth coal-fired power station in Newport, south Wales is back on
National Grid's Transmission Entry Capacity register, indicating possible
plans to convert to biomass, market commentators told Platts Tuesday.